From GlobeNewswire: 2024-11-20 09:21:00

The Life Science Tools Market was valued at USD 158.40 billion in 2023, projected to reach USD 407.57 billion by 2032 with a CAGR of 11.09%. Demand for precision medicine, genomics, and drug discovery is fueling market growth, driven by advancements in healthcare technologies and increased research activities in biotechnology and pharmaceuticals.

Next-Generation Sequencing (NGS) dominated the Life Science Tools Market in 2023, accounting for over 30% of the market share. Genomic Technology led the market with over 40% share, while Cell Biology Technology is the fastest-growing segment. The integration of automation and AI-powered systems is enhancing efficiency in laboratories, boosting the demand for high-throughput technologies.

North America held the largest share of the life science tools market in 2023, driven by advanced healthcare infrastructure and high R&D investments. The region is a leader in genomics and personalized medicine, with key companies like Illumina and Thermo Fisher Scientific. Asia-Pacific is expected to experience the highest growth rate, fueled by expanding healthcare infrastructure and government funding for life sciences research. Countries in Asia-Pacific like China, Japan, and India are investing heavily in life science research, focusing on genomics and personalized medicine. The region sees a rise in research institutions and clinical trials, driven by the growing incidence of chronic diseases like cancer and diabetes.

Recent advancements include Parallel Fluidics securing $7M to develop microfluidic technologies, Avida Biomed being acquired by Agilent Technologies for cancer research, and QIAGEN partnering with Helix for companion diagnostics, showcasing the importance of life science tools in research and drug development.

For more detailed insights, you can purchase a Single-User PDF of the Life Science Tools Market Analysis & Outlook Report 2024-2032 from SNS Insider, a leading market research and consulting agency dedicated to providing clients with up-to-date market data and insights to make informed decisions in a rapidly changing landscape.



Read more at GlobeNewswire: Global Life Science Tools Market Size Projected to Reach